"Every state is vulnerable to flooding, as recent floods in Oklahoma and Texas have demonstrated. Consumers are best served by having options in the flood insurance market. The NAIC supports the newly introduced “Flood Insurance Market Parity and Modernization Act” (S. 1679/H.R. 2901) which encourages growth of the private market and ensures state insurance regulatory authorities, that have long protected policyholders, will apply to private flood insurance. We commend Senators Dean Heller (NV) and Jon Tester (MT) along with Congressmen Dennis Ross (FL) and Patrick Murphy (FL) for introducing this bipartisan bill and advocate its passage."